SINGAPORE, Sept. 13 -- Singapore collected S$88.9 billion (RM291.3 billion) in tax revenue in the 2024/25 financial year, a 10.7 per cent increase from the previous year, according to figures from the Inland Revenue Authority of Singapore (IRAS).

The growth was underpinned by "robust" economic performance and stronger consumer spending, Singapore-based media organisation CNA reported. Taxes accounted for 76.9 per cent of government operating revenue and 12.2 per cent of GDP.

"The taxes collected play a vital role in supporting essential public services, driving economic growth, enhancing our living environment, and enabling social programmes that uplift the lives of Singaporeans," IRAS said.

Corporate income tax remained the largest co...